Navigating the Future: The Intelligent Transportation System Market Growth Report

In 2021, the intelligent transportation system market accounted for revenue of $42,780.0 million, which is predicted to hit $102,617.3 million, progressing at a 10.2% compound annual growth rate from 2021 to 2030. This is because of the growing requirement to improve traffic flow and safety and the surging population worldwide, which is influencing the sale of automobiles.

During the forecast period, aviation is predicted to have the highest CAGR in the industry, because more aircraft are being moved. Thus, a higher need for efficient airline operations, improved surveillance and security measures, and usage of smart ticketing systems, due to the growing number of passengers, are arising.

Get the sample pages of this report: https://www.psmarketresearch.com/market-analysis/intelligent-transportation-system-market/report-sample

Key Points of Intelligent Transportation System Market Report

• APAC is predicted to grow at a CAGR of almost 8% in the coming years. This rapid rise may be attributed to the fast urbanization in developing countries, primarily India and China, growing disposable income and bettering lifestyles, burgeoning automotive industry, and development of road infrastructure at a rapid pace.

• Moreover, China holds the biggest share in the intelligent transportation system market of the region, and it will maintain its spot in the future. This will be due to the surging acceptance of innovative technologies, increasing count of daily commuters, and the initiatives of the government to decrease emissions.

Explore more about this report@ https://www.psmarketresearch.com/market-analysis/intelligent-transportation-system-market

• In 2021, the services category had the biggest share, and it is expected to hold that position throughout this decade. This is a result of the rising need to improve the surface transportation efficiency and connectivity, which demands the appropriate upkeep of ITS equipment.

• Additionally, in the coming years, the software category will grow at a high rate in the intelligent transportation system market. This is due to the rising demand for data processing, increasing pace of technological development, and growing popularity of ITS software and visualization software.

• With a CAGR of 9%, the advanced public transportation system (APTS) category is predicted to advance at the highest rate throughout the forecast period. The increasing demand for APTS is due to the growing investment in real-time information collection and analysis for highways.

• Advanced traffic management systems (ATMS) have the largest revenue share, and they will continue to dominate the intelligent transportation system market till 2030. This would be due to their extensive use on roads, rise in commuter and automobile numbers in cities, and growth in the public concern about pollution and traffic jams.

There are numerous key players in the market, such as:

• Teledyne FLIR LLC
• DENSO Corporation
• Garmin Ltd.
• Indra Sistemas S.A.
• Conduent Inc.
• TomTom International BV
• Cubic Corporation
• Kapsch TrafficCom AG
• Thales Group
• Siemens AG

About P&S Intelligence
P&S Intelligence is a market research and consulting firm shaping growth strategies for enterprises with a global as well as niche presence. We specialize in both syndicate and custom market research, creating insight-laden reports that allow customers to stay ahead at every curve. Our clients range from multi-billion-dollar behemoths across industries to up and coming MSMEs and startups. Moreover, with our new offering, government, and public sector advisory services, we continue to trudge ahead in our quest for revolutionizing the way economies shape themselves in these ever-changing times.

Contact:
Chandra Mohan
AVP - Business Development
Phone: +1-347-960-6455
Email: enquiry@psmarketresearch.com
Web: https://www.psmarketresearch.com
Blog: https://pnsintelligence.wordpress.com

This release was published on openPR.